Here's how investors can play the historic rally in small cap stocks

Traders work on the floor of the New York Stock Exchange.

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The Russell 2000 index is on track for its best month on record, and some of the exchange traded funds that track small cap stocks have matched or even exceeded the benchmark.

Small cap stocks, which were lagging the broader market even before the pandemic hit, have rebounded amid optimism about an economic recovery next year. The news that the efficacy for the Pfizer and Moderna vaccines was above 90% in phase three trials was a "game changer" for markets, according to Eric Mintz, a co-portfolio manager at Eagle Asset Management who focuses on small and mid-cap growth stocks.

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